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Green Dot trades at 6-yr high following earnings beat

Published 08/09/2017, 02:08 PM
Updated 08/09/2017, 02:08 PM
© Reuters.  Green Dot trades at 6-yr high following earnings beat

© Reuters. Green Dot trades at 6-yr high following earnings beat

Investing.com - Green Dot Corporation (NYSE:GDOT)shares were rallying during Wednesday’s session following the company’s release of second quarter earnings which beat expectations.

The provider of reloadable prepaid debit cards and cash reload processing services in the United States posted adjusted second quarter EPS of 55 cents, 15 cents higher than what analysts were expecting. Revenue surged 28.3% year-over-year to $222.55 million, topping the consensus analyst forecast by $13.9 million.

Green Dot’s shares were up 15.7% Wednesday afternoon at $46.50 and climbed as high as $46.84 - their loftiest price point since 2011.

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